Israeli real estate investor Gazit-Globe moves to Q3 loss

TEL AVIV Nov 25 (Reuters) - Gazit-Globe, Israel's
largest real estate investment company, swung to a loss in the
third quarter mainly due to losses from currency hedging
transactions and said it would raise its dividend by 2 percent
in 2015.

Gazit-Globe said on Tuesday it lost 13 million
shekels ($3.4 million) in the third quarter, compared with a
profit of 314 million a year earlier. The 2013 quarter was
boosted by a one-time gain.

Rental income in the quarter fell 4 percent to 1.2 billion
shekels, but was unchanged excluding exchange rate effects.
Funds from operation rose 2 percent to 150 million shekels.

It will pay a dividend of 0.45 shekel a share for the third
quarter, representing an annual payout of 1.8 shekels. The
company said it will pay a quarterly dividend of 0.46 shekel a
share in 2015.

Beginning in 2016, the company will announce changes to its
dividend policy for the coming year in January.

Gazit-Globe operates in the United States through Equity One
and in Canada through First Capital Reality Inc
. It is the largest shareholder in Finland's Citycon
and together with Citigroup controls shopping
mall developer Atrium European Real Estate.
(1 US dollar = 3.8627 Israeli shekel)
(Reporting by Tova Cohen)